General
LASTMA Official, Driver Beaten Black and Blue
By Punch
There was pandemonium on Wednesday at the Costain area of Lagos State as an official of the Lagos State Management Authority and a bus driver were reportedly beaten to a pulp.
Punch Metro learnt that officials of LASTMA had allegedly apprehended the bus driver at the Costain bus stop, for allegedly violating a traffic rule.
It was alleged that an argument ensued between the driver, his conductor and the officials.
In the ensuing scuffle, a LASTMA official allegedly punched the driver and he slumped.
A mob was reported to have barricaded the road in protest as the driver lay on the floor, foaming in the mouth.
The mob reportedly vandalised a LASTMA patrol car which drove into the protesters at the time, beating up the officials.
They were said to have mobilised and also attacked the LASTMA office in the area and vandalised vehicles in the yard before the intervention of policemen from the Iponri division.
A witness, Ibrahim Adisa, said the incident happened around 9am.
He said, “We saw that the LASTMA officials held the bus driver at the junction for breaking traffic rule. The man did not release the vehicle to them, which started an argument. The driver and the conductor then started fighting the LASTMA men.
“One of the LASTMA officials put his hand in the pocket and brought out a ring which he used to hit the driver. The man fell and started foaming in the mouth. The officials then took his bus into their yard and left him on the ground.
“A mob barricaded the road and vandalised a LASTMA patrol car that came in that time. They beat up all the officials in the car. After that, they carried the man’s body into the LASTMA’s office and chased out the workers.”
Punch Metro learnt that the driver was later taken to a hospital after the police arrived to quell the unrest.
A motorcycle rider said the situation would have been worse but for the intervention of the police.
“Traffic was at a standstill and the hoodlums were looking for LASTMA officials or any government official to attack,” he added.
As of 3pm when our correspondent left the area, no traffic official was in sight as police patrol vehicles mounted surveillance in the area.
The Police Public Relations Officer, SP Dolapo Badmos, confirmed the incident, adding investigations were ongoing.
She said, “Yes, I can confirm that LASTMA officials impounded a vehicle and the driver and his conductor engaged the LASTMA officials in fisticuffs, which led to two losing consciousness. The two are the driver and a LASTMA official. They were both rushed to the hospital where they are currently recuperating. Investigation has commenced into the matter.”
The spokesperson for LASTMA, Mr Mahmud Hassan, in a statement, denied that the driver was beaten by an official of the agency.
He explained that some hoodlums, who were attempting to free the driver’s bus, invaded the premises of the agency and vandalised vehicles.
He said, “The commercial bus was apprehended for illegal picking and dropping of passengers in the Costain area. The commercial bus was subsequently taken to the nearest yard of the agency at Iponri for booking.
“However, in a bid to circumvent the law and retrieve the vehicle from LASTMA’s yard, the driver mobilised friends and hoodlums, who attacked the Iponri office of the agency. They injured our personnel and damaged vehicles in the yard. However, when the driver’s action did not yield the desired result, he stripped himself naked and created a scene in order to draw the sympathy of unwary members of the public.
“When the act failed, his friends and hoodlums put him in a wheelbarrow with a clear intention to cause commotion and breakdown of law and order.”
Hassan said two of the hoodlums had been arrested and would be arraigned in court.
The General Manager of LASTMA, Mr Bashir Braimah, according to the statement, said no amount of violence would make the agency to shy away from its statutory responsibility.
By Adedapo Adesanya
The Federal Executive Council (FEC) has approved the establishment of the National Research and Innovation Development Fund (NRIDF) as part of efforts to strengthen Nigeria’s research, science, technology and innovation sector.
The approval was granted during the council’s meeting presided over by President Bola Tinubu on Monday.
According to a statement issued by the Federal Ministry of Innovation, Science and Technology, Head of Press and Public Relations, Mrs Pauline Sule, the fund will be supervised by the ministry and managed through a 17-member National Council on Research and Innovation.
The council will be chaired by Vice President Kashim Shettima, while the Minister of Innovation, Science and Technology, Mr Kingsley Tochukwu Udeh, will serve as vice chairman.
Reacting to the development, Mr Udeh described the approval as a major step towards building an innovation-driven economy and strengthening Nigeria’s research ecosystem.
He said the initiative aligns with the federal government’s economic agenda aimed at achieving a $1 trillion economy under the Renewed Hope programme.
The Minister, however, noted that the fund would still undergo legislative, administrative and operational procedures before full implementation and disbursement begin.
According to him, the National Research and Innovation Development Fund is expected to provide strategic financial support for researchers, innovators, startups and technology developers across the country when fully operational.
He added that the initiative would help strengthen local research capacity, encourage the commercialisation of innovations and deepen collaboration between academic institutions and industry players.
The ministry also stated that the fund is expected to improve Nigeria’s competitiveness within the global technology and knowledge economy.
By Aduragbemi Omiyale
One Mr Taofeek Daniel Oriola has been convicted and sentenced to nine years’ imprisonment for money laundering.
He was sentenced by Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Monday, May 11, 2026.
His journey to the correctional centre started when he used part of the proceeds of his unlawful activity derived from fraudulent cryptocurrency transactions to acquire some properties, which have now been forfeited to the federal government.
The said properties include a 2014 Range Rover (Supercharged) with VIN Number SALGS3TF7EA180971, a five-bedroom apartment with boys’ quarters in the Ibeju-Lekki area of Lagos State, a parcel of land measuring 653.479 square metres situated at Ibeju-Agbe in Ibeju-Lekki, and one iPhone 16.
The convict, in April 2026, committed the offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
Mr Oriola was brought before the court by the Economic and Financial Crimes Commission (EFCC) on a three-count charge bordering on money laundering and concealment of proceeds of unlawful activities.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a 2014 Range Rover (Supercharged) with VIN No. SALGS3TF7EA180971, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.
“That you, TAOFEEK DANIEL ORIOLA (Male), adult, sometime in April 2026 in Lagos State, within the jurisdiction of this court, engaged in the disguise of the true source of a five-bedroom apartment with boys’ quarters situated at Ibeju-Agbe, in the Ibeju-Lekki area of Lagos State, which you knew formed part of the proceeds of your unlawful activity derived from fraudulent cryptocurrency transactions, and you thereby committed an offence contrary to Section 18(2) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act,” two of the three charges read.
After pleading “guilty” to the charges when read to him, Justice Osiagor sentenced him to three years’ imprisonment on each count, to run concurrently, with an option of a N200,000 fine on each count. The judge also ordered him to undertake seven days of community service.
Nigeria’s real estate industry has experienced significant growth over the years, with developers now moving beyond basic land sales to building smart cities, luxury apartments, lifestyle estates, and integrated residential communities.
At the same time, concerns around fraud and failed projects have made trust, transparency, and delivery capacity more important than ever, especially for diaspora investors looking to own property back home.
From Lagos to Abuja and other emerging cities, several companies have distinguished themselves through innovation, infrastructure, quality developments, and customer confidence. Here are some of the top real estate companies in Nigeria in 2026.
- LandWey Investment Limited
LandWey remains one of the most influential names in Nigeria’s modern real estate sector. Headquartered in Lagos, the company has built a strong reputation around smart infrastructure, lifestyle communities, and futuristic urban development.
Their flagship project, Isimi Lagos, is one of the most talked-about developments in the country. The project combines residential living with wellness infrastructure, recreation, technology hubs, and eco-friendly concepts.
LandWey’s developments are largely concentrated along the Lekki-Epe corridor, where they continue to shape conversations around premium residential investment.
- Palton Morgan Holdings
Palton Morgan Holdings has established itself as one of Nigeria’s leading luxury real estate developers, particularly within the high-end Lagos and Abuja property markets.
The company is known for premium residential developments that combine smart living, luxury architecture, and modern urban design. Their projects are recognised for sophistication, premium finishing, and strong lifestyle appeal.
Some of their major developments include Paramount Twin Towers, L5 Banana, Rockhampton, The Meadows, and Kadars Gate.
Mshel Homes Limited is a fast-growing real estate development company that is increasingly recognised as one of the top real estate companies in Nigeria, particularly in Abuja’s expanding property market. Known for its structured developments and strategic site selection, the company has earned a reputation as a trusted real estate company delivering modern residential and mixed-use projects.
Its portfolio spans over 60 estates in key locations across Abuja, Lagos, Kano and Yola. Mshel Homes outlets in Kaduna, Port Harcourt, and Maiduguri.
Mshel Homes is a driver of sustainability and is known for eco-friendly, innovative projects with flexible payment options, which continue to attract both homebuyers and investors seeking long-term value in Nigeria’s evolving real estate sector.
Mshel Homes Limited has rapidly grown into one of the most respected and trusted real estate companies in Nigeria. Established in 2018 and headquartered in Abuja, the company is widely recognised for its integrity, transparency, honesty, and commitment to delivering value.
In an industry where credibility matters greatly, Mshel Homes has built a reputation around verified property documentation, quality construction, sustainable living, and affordable luxury.
One of its landmark projects is Hutu Exclusive, a luxury golf resort estate on Airport Road in Abuja. Widely regarded as Nigeria’s first golf resort estate, the development combines luxury living with wellness, recreation, and lifestyle infrastructure.
The estate gained national recognition after winning the “Best Branded Lifestyle Project of the Year, 2025” award at the Africa Housing Show.
Mshel Homes has a reputation for delivering amazing projects, as evident in Asokoro, Guzape, Gaduwa, Katampe Extension, and Airport Road in Abuja, among others.
- Cosgrove Investment Limited
Cosgrove has earned a strong reputation as one of Nigeria’s leading smart real estate developers. Headquartered in Abuja, the company focuses heavily on technology-driven communities and energy-efficient residential developments.
Cosgrove is recognised for integrating automation, smart security systems, and modern infrastructure into its projects, making its estates particularly attractive to professionals and investors seeking contemporary urban lifestyles.
Their emphasis on innovation gives them a unique advantage in Nigeria’s evolving property market.
- Veritasi Homes and Properties
Veritasi Homes has grown significantly through aggressive expansion and investment-focused developments. The company has become highly visible within the Lagos real estate market and is particularly known for flexible payment plans and land banking opportunities.
Their projects appeal strongly to both local and diaspora investors looking for long-term property appreciation and strategic investment locations.
Veritasi continues to strengthen its position as one of Nigeria’s fast-rising real estate brands.
- Dantata & Sawoe Construction Company Nigeria Limited
Dantata & Sawoe remains one of the oldest and most established construction and infrastructure companies connected to Nigeria’s real estate sector.
Unlike many modern developers focused mainly on residential estates, the company’s strength lies in engineering expertise, large-scale infrastructure projects, and urban development execution.
- Efab Properties Limited
Efab Properties has maintained relevance for years within Abuja’s real estate market. The company became known for delivering residential estates and housing projects targeted at middle and upper-middle-income buyers.
Its long-standing presence in the Federal Capital Territory continues to contribute to its recognition in Nigeria’s property industry.
- Nest & Nails Limited
Nest & Nails has emerged as a fast-growing real estate company focused on modern residential developments and lifestyle-oriented communities.
The company has gained attention for blending luxury aesthetics with practical housing solutions while maintaining strong market visibility and branding.
Their developments continue to attract younger homeowners and upwardly mobile investors.
- Brains & Hammers
Brains & Hammers is widely regarded as one of the most structurally ambitious real estate companies in Nigeria.
The company became prominent through large-scale residential developments, urban housing projects, and premium estates across Abuja and other cities.
Their strength lies in delivering infrastructure-heavy developments that combine affordability with modern living standards.
- Bilaad Realty
Bilaad Realty continues to build recognition within Nigeria’s competitive property market through residential estate projects and investment-focused developments.
Although still growing compared to some industry giants, the company is steadily expanding its footprint and increasing brand awareness within key investment locations.
Final Thoughts
Nigeria’s real estate industry is becoming increasingly sophisticated, with developers now competing beyond land sales alone.
Today, the leading companies are those building smart cities, lifestyle communities, luxury developments, and infrastructure-backed estates while maintaining transparency, trust, and long-term value for investors and homeowners.
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